IC77 ENGINEERING INSURANCE EXAM - 03
| Q1.Risks can be reduced or losses prevented by adopting specific loss prevention measures e.g. installation of fire fighting equipment or making available appropriate spare parts or stand-by equipment reduce business interruption risks? |
| a) Risk evaluation |
| b) Risk control |
| c) Risk Financing |
| d) Risk identification |
| Q2.CECR (policy) stands for: |
| a) Civil Engineering contractors risk insurance |
| b) Civil Engineering completed risks insurance |
| c) Civil Engineering construction risks insurance |
| d) None of the above |
| Q3.A loss under EAR is reported to have occurred on account of bad material in the foundation of a Universal Testing Machine (UTM), due to which the UTM toppled and fell on the adjacent precision machines thereby damaging them. Which of the following items will be payable as per terms and conditions of EAR policy: |
| a) Foundation and the UTM machine. |
| b) Foundation, UTM, and Precision machines |
| c) UTM and Precision machines |
| d) None of the above. |
| Q4.Which of the following is not covered in EAR policy |
| a) Loss due to faulty design. |
| b) Negligence. |
| c) Wilful negligence |
| d) Both a and c |
| Q5.In MI policy, Sum Insured represents |
| a) Current market value |
| b) New Replacement value |
| c) Current market value including transportation cost to site, customs dues, and all installation costs. |
| d) New Replacement value including transportation cost to site, customs dues, and all installation costs. |
| Q6.In the Eastern part of the country a Syndicate of five Companies viz. the London and Lancashire, the 'Concord', ' Atlas', 'Yorkshire', and 'British India General' was formed in the year _____ with a view to pooling their resources. |
| a) 1954 |
| b) 1964 |
| c) 1974 |
| d) 1984 |
| Q7.Which of the following is not true regarding CPM policy: |
| a) Maximum limit of Third Party Liability during the policy period is Rs10Lacs. |
| b) Additional Customs Duty is covered on a first loss basis. |
| c) Pay loaders on barges can be covered under CPM policy. |
| d) All are not true. |
| Q8.Facility of installment premium is available for project policies if the project period exceeds |
| a) 12 months |
| b) 15 months |
| c) 18 months |
| d) 24 months |
| Q9.The standard erection all risk insurance policies do not cover: |
| a) Fire risk |
| b) Negligence |
| c) Storm caused damages |
| d) Removal of debris |
| Q10.The checking of parts, elements, and or production lines of insured property under full or partial load and normal or simulated operating conditions including the use of feedstock of other material for normal processing or other media for load stimulation? |
| a) Hot testing |
| b) Cold testing |